Emperor enters into letter of intent with FourWinds Private Holdings

The Board of Directors of Emperor Oil Ltd. announce that the Company has entered into a letter of intent(the "Letter Agreement") with FourWinds Private Holdings, a member of the FourWinds Group of Companies ("FourWinds"). The FourWinds Group of Companies is a specialist global asset management group with expertise in real asset investments and projects, having significant experience in Africa and the Middle East.

Pursuant to the terms of the Letter Agreement, FourWinds and its affiliates will provide services to the Company in connection with location, negotiation, acquisition and financing of certain oil and gas development concessions. These services include providing access to opportunities that are available to the FourWinds Group of Companies.

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